00:01A bailout bill in the billions for Australia's largest aluminium smelter.
00:07The idea that we would sit back and watch this facility just disappear is not in Australia's national interest.
00:17Rio Tinto had threatened to shut it down, citing rising energy costs.
00:22The company will now chip in at least $1.1 billion to fund renewable innovation.
00:27More than a thousand workers have been given job security for at least the next decade.
00:34Definite sense of relief. It's sort of been eight months of uncertainty that I think has affected some people.
00:40And I think there's going to be some legacy in getting that over the line.
00:44But I think, yeah, it's really positive.
00:46It was what we were hoping for, been hoping for all for a while.
00:49New South Wales and the Commonwealth were in an arm wrestle over who would pay more for this bailout.
00:54Despite initially pushing back on an even split, the New South Wales Premier eventually accepted a 50-50 deal.
01:01We recognise this is based in New South Wales. It's hugely important for our economy.
01:06The federal opposition claim renewables are to blame.
01:10The reason they are having to do this is because electricity prices are too high.
01:15While the Greens want the government to own a slice of the smelter.
01:19These companies that are making billions cry poor when energy prices go up.
01:24It's only fair that for that stake the community gets a share.
01:28For now, Tomago, power's on.
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